Wang Yung-ching | |
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王永慶 | |
Born | Chyokutan jō, Shinden ku, Shinden shichō, Taihoku Chō, Japanese-occupied Taiwan | 18 January 1917
Died | 15 October 2008 91) Short Hills, New Jersey, U.S. | (aged
Citizenship |
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Occupation | Businessman |
Known for | Forbes 178th richest person (2008) |
Children | |
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Wang Yung-ching (Chinese :王永慶; pinyin :Wáng Yǒngqìng; Pe̍h-ōe-jī :Ông Éng-khèng; 18 January 1917 – 15 October 2008), also called YC Wang, was a Taiwanese businessman. He was best known for being the chairman of Formosa Plastics Corporation, one of Taiwan's foremost plastic manufacturing establishments until his retirement in June 2006, where he stepped down at the age of 89. [1]
In 2008, Forbes ranked him as the 178th richest person in the world with an estimated net worth of US$5.5 billion. [2]
Despite lacking any formal schooling beyond elementary school, [3] he was ranked 2nd in the Forbes list of Taiwan's Richest in 2008. [4]
Wang was born in Chyokutan jō, Shinden ku, Shinden shichō, Taihoku Chō (modern-day Chitan Village, Xindian District, New Taipei City) in then-Japan-ruled-Taiwan.[ citation needed ]
In 1995, Wang signed a contract with Marco Terragni (chairman of Italproducts) to create Inteplast, the biggest company in the world for the production of Cartonplast.[ citation needed ]
Wang served as the chairman of the board of Formosa Plastics Corporation, one of the largest plastic manufacturers in the world, until June 2006, when he stepped down at the age of 89. [5] He remained chairman of the boards of Nan Ya Plastics Corporation, Formosa Chemistry & Fibre Corporation, and Cyma Plywood & Lumber Co. Ltd, but indicated his intention to gradually resign from these positions to focus on his retirement. He was chairman of Ming-chi Institute of Technology, and Chang Gung Medical Foundation. After his death, Wang's position at Chang Gung was taken over by his younger brother Wang Yung-tsai, and then third wife Lee Pao-chu. [6] He had been a vocal supporter of the Three Links between Taiwan and Mainland China. [7]
Wang's first marriage was to Wang (née Guo) Yueh-lan, with whom he had no children. [8] His second marriage to Yang Chiao produced Wang's first child, making a total of five. [9] Wang later married a third time in 1935 to Lee Pao-chu. [10] Wang and Lee had another five children; Wang fathered a total of ten. [11] His eldest son from his second marriage with Yang Chiao, Winston Wang, founded Grace Semiconductor Manufacturing with Jiang Mianheng, the son of former Chinese Communist Party General Secretary Jiang Zemin in 2000. A daughter from his second marriage, Charlene Wang founded Taiwan-based First International Computer, Inc. Another daughter, Cher Wang, founded High Tech Computer (HTC) and VIA Technologies. Among the Wang siblings, Cher has come closest to rivaling her father's wealth. [12] In 2011, Forbes estimated Cher Wang's personal fortune at $8.8 billion, making her the wealthiest individual in Taiwan at the time. [13]
Wang passed away in his sleep on October 15, 2008 at his home in Short Hills, New Jersey. [14] He was 91 years old. [15]
The family struggles which followed his death led to the discovery that he had engaged in extensive tax evasion and had stashed billions of dollars offshore. [16]
Tsai Wan-lin was a Taiwanese businessman who, at the peak of his wealth in 1996, was considered to be the fifth richest person in the world, with a family net worth of US$12.2 billion. At the time of his death in 2004, he was the richest man in Taiwan with a fortune of US$4.6 billion, ranked 94th worldwide. He founded the Lin Yuan Group, a large banking and insurance group.
Formosa Plastics Group is a titular Taiwanese conglomerate of diverse interests, including biotechnology, petrochemical processing and production of electronics components. The group was founded by Wang Yung-ching and his brother Wang Yung-tsai, and is chaired by Wong Wen-yuan. Despite its name, its holdings include several companies prominent in the high tech electronics sector, including VIA Technologies and Nanya Technology Corporation.
Guishan District is a district in northeastern Taoyuan City, Taiwan.
Winston Wen-Yang Wong OBE is the eldest son of Wang Yung-ching, chair of the Formosa Plastics Group (FPG), by his second wife. Wong is now a widower with a son and a daughter after his wife died of stomach cancer in 2007. Wong holds degrees in physics, applied optics, and chemical engineering from Imperial College London. His English name was chosen during his study in the United Kingdom.
Formosa Plastics Corporation is a Taiwanese plastics company based in Taiwan that primarily produces polyvinyl chloride (PVC) resins and other intermediate plastic products. It is the corporation around which influential businessman Wang Yung-ching formed the Formosa Plastics Group, and it remains central to the Group's petrochemical operations. The president of Formosa Plastics Corp. (FPC) is Jason Lin (林健男).
Chang Yung-fa CBE was a Taiwanese businessman. He founded and chaired the Evergreen Group.
Articles related to Taiwan include:
The Formosa Plastics Group Museum is a museum located at Chang Gung University in Taoyuan, Taiwan. The museum, which opened to the public in 2004, has six above-ground exhibition floors and one basement exhibition area, covering over 8,000 square meters. Its main purpose is to educate the general public about the two Formosa Plastics Group (FPG) founders, Wang Yung-ching and Wang Yung-tsai.
Jeffrey Koo Sr. was a Taiwanese billionaire banker, who served as honorary chairman and governor of Chinatrust Bank, and co founded Koos Group.
Cher Wang is a Taiwanese entrepreneur. As co-founder and chairperson of HTC Corporation and integrated chipset maker VIA Technologies, she is one of the most successful women in computer technology. Wang's father was Wang Yung-ching, founder of the plastics and petrochemicals conglomerate Formosa Plastics Group and one of the wealthiest individuals in Taiwan before his death in 2008. As of 2014, she is listed as the 54th most powerful woman in the world by Forbes.
Wang Chuanfu is a Chinese chemist, billionaire entrepreneur, and the founder, chairman and CEO of BYD Company.
Events from the year 2008 in Taiwan, Republic of China. This year is numbered Minguo 97 according to the official Republic of China calendar.
Wang Yung-tsai was the younger brother of Wang Yung-ching, founder of Formosa Plastics Group.
Wang Jianlin is a Chinese business magnate, investor and philanthropist. He is the chairman, founder, and majority shareholder of the Dalian Wanda Group, one of China's foremost conglomerate companies, which is also well known for being China's largest real estate development company and the world's largest movie theater operator. He previously owned 17% of the Spanish football club Atlético Madrid. In 2016, Wang reached a deal with FIFA to launch the China Cup, in which national football teams compete in Nanning, Guangxi each year.
Events from the year 2014 in Taiwan, Republic of China. This year is numbered Minguo 103 according to the official Republic of China calendar.
Tsai Eng-meng is a Taiwanese billionaire businessman. He is best known for his leadership of the Want Want food company and his family's later acquisition of various news media companies in Taiwan. He is also chairman of the snack food company Want Want China. He was the richest person in Taiwan in 2017.
The Chang Gung Medical Foundation, also known as Chang Gung is a medical and hospital network located in Taiwan. It was founded in 1973 by Wang Yung-ching to commemorate his father Wang Chang-gung. The hospital network has a total of 10,050 beds.
Eugene Wu is a Taiwanese business executive. He led the Shin Kong Group and several affiliated subsidiaries.
Scott Lin is a Taiwanese billionaire and co-founder of Largan Precision.
Walter Wang is a Taiwanese businessman, investor, and philanthropist. He is the co-founder of The Walter and Shirley Wang Foundation, and JMM Foundation, a philanthropic organization. He is also the CEO of JM Eagle, a global manufacturer of plastic pipe. Wang's father was Wang Yung-ching, founder of the plastics and petrochemicals conglomerate Formosa Plastics Group and one of the wealthiest individuals in Taiwan before his death in 2008. His sister is Cher Wang, co-founder and chairperson of HTC Corporation and integrated chipset maker VIA Technologies.
Wang Yung-ching died of cardiopulmonary arrest on Oct. 15 at his house in Short Hills, New Jersey, two days after arriving from Taiwan. He traveled to Short Hills 'numerous times on a regular basis every year of the last 20-plus years of his life,' and lived there in the 1980s, the complaint said.